Such has been the unmitigated success of UK PM Gordon Brown’s cunning financial management of our nations’ economy ….that the value of the £pound compared to other major currencies has fallen to a 28-year low amid growing fears over the health of the British economy.
Brown is on record stating that no other major economy is better placed than the UK to weather the current international financial straits. But for some odd reason, investors feel different!
“UK Holidaymakers were warned that the pound may soon reach so-called parity with the euro with £1 buying just one euro. At tourist rates, £100 will now buy just 110 euros. Bank of England figures, which measure sterling against a basket of international currencies, recorded the pound at its weakest level since records began in 1980. Currency experts said that the British currency was last this low in the mid-1970s when the country faced bankruptcy and received emergency funding from the International Monetary Fund. The pound has fallen amid growing fears over rapidly increasing levels of Government borrowing. Alistair Darling, the Chancellor, recently conceded that public borrowing will reach more than £1 trillion over the next few years.”
So why is Brown overseeing this decline in our national currency whilst simultaneously boasting what a great job he has been doing? It’s my view that Labour, through its actions is deliberately taking the value of the Pound to the point where it could then be exchanged for the Euro. We lose our currency, Brown wins the plaudits of the Euro-mob.